WHY ACCOUNTING & BOOKKEEPING IS IMPORTANT FOR START-UPS

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FASTCOLLAB

• WHY ACCOUNTING BOOKKEEPING IS IMPORTANT FOR
  START-UPS

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• Accounting Bookkeeping is all about
  registering revenues expenditures happening in
  a business. And mainly included booking all your
  receipts, invoices payments without making any
  errors. Accurate bookkeeping can support your
  business finances to be on track.
• 1. Tax Return Due to the tax return, business
  owners want to compile their annual financial
  reports at the end of each year. Depending on the
  business transactions happened throughout the
  year. A thorough faultless tax declaration
  ensure that start-ups have a track of their
  finances.

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• 2. Better Control on money flow Thanks to
  accounting, entrepreneurs can analyze all their
  expenditures revenues. Control on money flow
  can pinpoint and eliminate high spendings.
• 3. VAT Returns All business that are liable to
  VAT requires drawing up their VAT every quarter
  of the financial year paying it to the
  government. There is no room for mistakes or
  delays, for which reason start-ups need to
  maintain proper bookkeeping of all the accounts.
• 4. Increased Productivity Accounting is the
  original way for a business to determine its
  productivity profitability. Even small
  businesses are capable of producing high amounts
  of sales revenue.

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